Can Illiterates Make Payroll Loans?
Should illiterate loan agreements be signed in a notary’s office? Answer me one thing – Illiterate can have bank account, credit card, bank limit? A great discussion has been going on in the country’s courts – why? Many lawyers are questioning in court the legality of the loan agreements of people who do not know how to sign or barely know how to sign their name. Who in Brazil does not know what payroll loan is. All retail banks, dozens of financiers, associations and credit unions make the payroll a source of profit, some like BMG Bank even specialize in this type of operation.
Today lending money to retirees, pensioners, civil servants from all walks of government, military of the armed forces, military of the states and thousands of private companies have already surrendered to the payroll loan.
By offering security, having automatic discounts on wages or checks and applying the lowest rates in the markets, the payroll in recent years has stood out and is still up.
But what happens when the person concerned is a person who does not know or can barely read and write? When the interested party falls into this situation, in general the broker or bank correspondent ignores the fact, the contract is negotiated anyway and the illiterate person, adheres to the contract formalizing with the simple apposition of his digital in the indicated place.
“It is elementary the science that contracts signed with illiterate persons must be signed by an attorney-in-fact or through an attorney-in-fact legitimized by a public power of attorney empowered to do so, otherwise the agreement is null and void because of a provision of law (article 104, III , c / c art. 166, both of the CC) “
Read: The private deeds signed on request do not have legal value. It is notorious that a signature can not be replaced by simply applying the fingerprint of a thumb.
The illiterate, or anyone who is unable to sign his name, only by public deed, or by instrument of attorney, may incur an obligation.
In current contracts you have the rules to complete this type of contract.
“ANALPHABETS can contract yes and without problems. But you must put your right thumb in the CCB’s signature field (CONTRACT) and in the RG identity card, the words “Do not Sign” must be included in the place of signing. Two witnesses are also required to sign in the specific field and one of them must be a first-degree relative.
Witnesses must provide copies of the RG, CPF and if married, marriage certificate. One of the witnesses must write in the CCB: “The CCB has been read out loud and understood by the applicant.”
At the moment, a judicial measure is in the process of obliging financial institutions to make payroll deductible loans for the elderly and illiterate, soon this type of contract will be executed by registering the respective contracts in a public registry office.